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标题：Heterogeneity of associates, capital structure and profitability of non-financial cooperatives in Colombia
其他标题：Heterogeneity of associates, capital structure and profitability of non-financial cooperatives in Colombia
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作者：Giovanni Andrés Hernández Salazar
期刊名称：Cuadernos de Economía
印刷版ISSN：2248-4337
出版年度：2020
卷号：39
期号：79
页码：1-30
DOI：10.15446/cuad.econ.v39n79.77290
出版社：Universidad Nacional de Colombia - Facultad de Ciencias Económicas
摘要：This research aims to study the relationship between the member ́s heterogeneity and capital structure and profitability in cooperative organizations. The database was built with 199 Colombian non-financial cooperatives between 2009-2013. The main finding is that variations in the socio-economic heterogeneity of associates affect long-term capital structure by 23%, short-term capital structure by 13% and profitability by 6%. It is concluded that the principle of people' free entry and exit from organizations with collective property and democratic governance affects the organization's financial indicators.
关键词：Palabras clave cooperativas; estructura de capital; rentabilidad; heterogeneidad de los asociados